Demars Financial Group LLC Buys 3,552 Shares of Intercontinental Exchange Inc. $ICE

Demars Financial Group LLC grew its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 36.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,222 shares of the financial services provider’s stock after acquiring an additional 3,552 shares during the quarter. Intercontinental Exchange makes up 0.5% of Demars Financial Group LLC’s holdings, making the stock its 29th largest holding. Demars Financial Group LLC’s holdings in Intercontinental Exchange were worth $1,628,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares during the period. Empowered Funds LLC boosted its holdings in shares of Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after buying an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after buying an additional 289 shares during the last quarter. NewEdge Advisors LLC grew its position in Intercontinental Exchange by 27.9% during the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after buying an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in Intercontinental Exchange by 2.4% during the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after buying an additional 6,373 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $155.34 on Friday. The business’s 50-day simple moving average is $140.32 and its two-hundred day simple moving average is $152.25. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $183.13. The stock has a market cap of $87.21 billion, a PE ratio of 21.94, a P/E/G ratio of 1.49 and a beta of 0.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the prior year, the company posted $1.81 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, analysts forecast that Intercontinental Exchange Inc. will post 8.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $178.00 price target on shares of Intercontinental Exchange in a research report on Friday, July 31st. TD Cowen reaffirmed a “buy” rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a research report on Monday, July 6th. UBS Group reissued a “buy” rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $183.33.

Insider Buying and Selling

In other news, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the sale, the chief financial officer owned 25,189 shares in the company, valued at $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the transaction, the director directly owned 15,077 shares in the company, valued at $2,280,848.56. This trade represents a 4.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 16,454 shares of company stock worth $2,469,349 in the last quarter. 0.84% of the stock is owned by insiders.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.